Calyx in €600k comms acquisition


11 Jul 2005

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Irish ICT and networking player Calyx has acquired another Irish supplier of communications solutions – Convergent Systems Ireland – for €600,000.

Calyx, which floated recently on AIM, will witness a boost to its skills set in the area of professional services and systems integration. The acquisition will also bring in a healthy client portfolio and what it terms “a positive, ambitious approach to the converging voice and data market”.

Convergent was set up in December 1999 and delivers professional services, including consultancy, project management, installation and support of voice and data products to a wide range of business sectors.

As an Avaya Business Partner, Convergent specialises in helping businesses to maximise the use of their existing voice and data infrastructures to reduce costs and improve efficiency. The Convergent client base includes Citigroup, One Direct, American Holidays, AVX, Micros Fidelio, Dublin Tourism, Sportingbet Ireland, Accenture and Norfolkline.

For the year-end 31 August 2004, the most recent year of which audited figures have been published; Convergent had revenues of €1.3m, EBITDA of €250,000 and gross book value assets of €660,000.

The acquisition of Convergent will be settled by an initial consideration of €300,000 with a further earn-out payment of up to €300,000 payable in July 2006, subject to certain performance criteria being met.

By John Kennedy